Project Description

Just In Time

EstateCo wipes away obstacles for surprised heirs

Overview

Soon after Mr. James Kovacs and his wife passed away, their only son perished as well. With no named heirs or known relatives, the Kovacs’ estate went unclaimed, leaving their Florida home untouched and abandoned for many years.

In a race against the clock, EstateCo was able to locate relatives and help them claim their surprise inheritance before the estate slipped away forever.

Challenges

  • The property had a tax deed sale date quickly approaching due to years of unpaid real estate taxes

  • A vagrant was attempting to claim adverse possession of the property

  • Like many dormant estates, the property had incurred tens of thousands of dollars in taxes, fees, and liens

  • The nine relatives who became heirs had no knowledge of the estate and were spread all across the country, complicating communications and paperwork

With a tax deed sale on the horizon and someone trying to claim the property via Adverse Possession laws, the road to closing the Kovacs estate was full of legal twists and turns. Additionally, the financial value of the estate was being crushed under the weight of code enforcement liens totaling nearly $85,000! The nine heirs, all distant cousins of Mr. Kovacs, lived across many different states and time zones, adding an extra layer to the intricacy required for communications and legal paperwork. Interestingly, most of the heirs hadn’t spoken to Mr. Kovacs in over 30 years, but their limited knowledge of the estate was no obstacle for EstateCo researchers.

Results

Mr. Kovacs’ nine distant cousins were previously unaware of the estate, its condition, and their right to claim it, but once EstateCo reached out to them, we were able to turn the tide in their favor. EstateCo put a stop on the tax deed sale, and our legal team defended the estate against adverse possession, proving the person who had tried to legally claim the home had no right to the property. Next, we set our sights on restoring as much of the estate’s total financial value as possible, expertly negotiating the liens down by 97%, restoring over $81,000 to the estate. After legally proving Mr. Kovacs’ genealogical relationship to each client, the nine cousins were happy to recover $239,000 total – $190,000 in real estate and $49,000 in various unclaimed monies.

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